Steel Dynamics, Inc.
MX ˙ BMV ˙ US8581191009
SecurityMX:STLD / Steel Dynamics, Inc.
InstitutionEmpirical Finance, LLC
Latest Disclosed Ownership2,577 shares
Latest Disclosed Value $ 463,860
Empirical Finance, LLC reports 0.39% decrease in ownership of STLD / Steel Dynamics, Inc.

On May 14, 2026 - Empirical Finance, LLC filed a 13F-HR/A form disclosing ownership of 2,577 shares of Steel Dynamics, Inc. (MX:STLD) valued at $463,860 USD as of March 31, 2026. The entity filed a previous 13F-HR on February 12, 2026 disclosing 2,587 shares of Steel Dynamics, Inc.. This represents a change in shares of -0.39% during the quarter.

Institutional Ownership: 13F and NPORT Filings

The Security and Class in the table below are shown exactly as filed by the investor. We do our best to track continuity of investments through acquisitions, and this will be reflected in the table as changes in names. In addition to descriptive data, performance of the investment is shown over time. To calculate quarterly performance, we first calculate cost basis of the shares purchased during the quarter, then use that to calculate gross profit. Quarterly return is Gross Profit / Starting Portfolio value.

Note that cost basis is calculated and stored in thousands, so small quarterly changes in shares frequently result in a cost basis of zero.

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Disclosed Equity Positions (from 13F/NPORT Filings)
File
Date		 Effective
Date		Form Security Class ID Avg Price
Paid (Est)		 Reported
Shares		 ΔShares ΔShares
(%)		 Reported
Value
(x1000)		 ΔValue
(%)		 Alloc
(%)		 ΔAlloc ΔAlloc (%) Cost Basis
(x1000)		 Unrealized
Gain/Loss
(x1000)
2026-05-14 2026-03-31 13F/A-1 STEEL DYNAMICS COM 858119100 2,577 -10 -0.39 464 5.71 0.0218
2026-05-14 2026-03-31 13F STEEL DYNAMICS COM 858119100 2,577 -10 464 0.0218
2026-02-12 2025-12-31 13F STEEL DYNAMICS COM 858119100 2,587 -80 -3.00 438 18.06 0.0209
2025-11-13 2025-09-30 13F STEEL DYNAMICS COM 858119100 2,667 45 1.72 372 10.75 0.0177
2025-08-11 2025-06-30 13F STEEL DYNAMICS COM 858119100 2,622 40 1.55 336 4.04 0.0176
2025-05-07 2025-03-31 13F STEEL DYNAMICS COM 858119100 2,582 198 8.31 323 18.82 0.0195
2025-01-28 2024-12-31 13F STEEL DYNAMICS COM 858119100 2,384 -4,323 -64.46 272 -67.93 0.0157
2024-11-06 2024-09-30 13F STEEL DYNAMICS COM 858119100 6,707 167 2.55 846 -0.12 0.0493
2024-07-30 2024-06-30 13F STEEL DYNAMICS COM 858119100 6,540 -146 -2.18 847 -14.63 0.0529
2024-05-06 2024-03-31 13F STEEL DYNAMICS COM 858119100 6,686 181 2.78 991 29.04 0.0608
2024-02-14 2023-12-31 13F STEEL DYNAMICS COM 858119100 6,505 -693 -9.63 768 -0.39 0.0536
2023-11-02 2023-09-30 13F STEEL DYNAMICS COM 858119100 7,198 584 8.83 772 7.08 0.0567
2023-07-27 2023-06-30 13F STEEL DYNAMICS COM 858119100 6,614 -4,437 -40.15 720 -42.35 0.0558
2023-04-05 2023-03-31 13F STEEL DYNAMICS COM 858119100 11,051 670 6.45 1,249 23.18 0.1170
2023-02-21 2022-12-31 13F/A-1 STEEL DYNAMICS COM 858119100 10,381 82 0.80 1,014 38.71 0.1050
2023-01-24 2022-12-31 13F STEEL DYNAMICS COM 858119100 10,381 82 1 0.1050
2022-11-04 2022-09-30 13F STEEL DYNAMICS COM 858119100 10,299 -2,489 -19.46 731 -13.59 0.0867
2022-08-01 2022-06-30 13F STEEL DYNAMICS COM 858119100 12,788 5,074 65.78 846 31.37 0.1078
2022-04-21 2022-03-31 13F STEEL DYNAMICS COM 858119100 7,714 0 0.00 644 34.45 0.0721
2022-02-04 2021-12-31 13F STEEL DYNAMICS COM 858119100 7,714 -2,400 -23.73 479 -18.95 0.0566
2021-11-12 2021-09-30 13F STEEL DYNAMICS COM 858119100 10,114 -36,363 -78.24 591 -57.33 0.0891
2020-10-26 2020-09-30 13F STEEL DYNAMICS COM 858119100 46,477 9,033 24.12 1,385 41.76 0.3868
2020-07-20 2020-06-30 13F/A-1 STEEL DYNAMICS COM 858119100 37,444 603 1.64 977 17.71 0.2500
2020-07-20 2020-06-30 13F STEEL DYNAMICS COM 858119100 32,495 977
2020-04-16 2020-03-31 13F STEEL DYNAMICS COM 858119100 36,841 0 0.00 830 -33.81 0.2580
2020-01-27 2019-12-31 13F STEEL DYNAMICS COM 858119100 36,841 -9,636 -20.73 1,254 -9.46 0.3049
2019-10-30 2019-09-30 13F STEEL DYNAMICS COM 858119100 46,477 13,527 41.05 1,385 39.20 0.3868
2019-07-09 2019-06-30 13F STEEL DYNAMICS COM 858119100 32,950 363 1.11 995 -13.40 0.2727
2019-05-10 2019-03-31 13F STEEL DYNAMICS COM 858119100 32,587 0 0.00 1,149 17.36 0.2923
2019-01-22 2018-12-31 13F STEEL DYNAMICS COM 858119100 32,587 0 0.00 979 -33.54 0.2902
2018-10-18 2018-09-30 13F STEEL DYNAMICS COM 858119100 32,587 -981 -2.92 1,473 -4.47 0.3665
2018-07-09 2018-06-30 13F STEEL DYNAMICS COM 858119100 33,568 981 3.01 1,542 34.20 0.3907
2019-05-10 2018-03-31 13F STEEL DYNAMICS COM 858119100 32,587 -981 -2.92 1,149 -20.65 0.2404
2018-02-01 2017-12-31 13F STEEL DYNAMICS COM 858119100 33,568 0 0.00 1,448 25.04 0.4777
2017-10-31 2017-09-30 13F STEEL DYNAMICS COM 858119100 33,568 33,568 1,158 0.3995
Legend
Shares
The total number of shares held by the institution at the end of the reporting period (the effective date). This is provided in the filing.
Value
The total value of the shares as of the effective date. This is provided in the filing.
Avg. Share Price
The weighted average share price of the shares held by the institution. We use FIFO accounting to determine this price
Class
This is the security class as indicated by the filer. There are a variety of values for this field. Common values include "EC" = equity common, "EP" - equity preferred
Allocation (%)
The percent of the institution's portfolio that this position represents. This is provided in NPORT filings. For 13F filings, we calculate it.
Change in Allocation
The change in allocation from the prior reporting period. This is calculated as current allocation - prior allocation.
Change in Allocation (%)
The percent change in allocation from the prior reporting period. This is calculated as (current allocation - prior allocation) / prior allocation.
Cost Basis
The total cost of the shares held. This is calculated as reported shares * avg. share price
Unrealized Gain/Loss
This is the market value of the position as of the effective date minus the cost basis.